FAB&T Helps Customers Save More Than $500,000 With Plinqit Savings App
ANN ARBOR, Mich.–(BUSINESS WIRE)–First Arkansas Bank & Trust (FAB&T), based in Jacksonville, Ark., has helped customers save more than $500,000 since launching Plinqit, a brandable, savings app and the only savings tool that pays users for engaging with content.
As an early adopter of Plinqit, FAB&T has experienced an increase in customer engagement and deposits. The average Plinqit user saves over $1,400 and 80% of users maintain or create another goal after achieving their first Plinqit savings goal. FAB&T customers are enjoying a better digital experience and learning positive money habits with a wide variety of savings goals from emergency funds to summer vacations to college tuition.
Plinqit is unlike any other saving app on the market because it’s free and easy to use, while simultaneously driving engagement and deposits. The mobile-first platform’s patent-pending Build Skills™ pays users for engaging with content and learning about finances. By watching educational videos or reading articles in the Plinqit library and taking a short quiz, customers are rewarded by adding money toward their savings goal. This creates higher engagement for financial institutions, like FAB&T, while rewarding users for improving their financial literacy.
“Plinqit has proven to be our customers’ savings tool of choice and the results have been pretty remarkable,” said Roger Sundermeier, SVP & Chief Brand Officer with FAB&T, “The app really helps people save by giving them a goal to work towards rather than just storing away funds. It feels tangible and real for users because they know what they are saving for and learn more about finances in the process. Plinqit’s mobile platform makes it even more attractive in our current environment.”
Sundermeier continued, “While we have locations across the state, our headquarters is in a military town with a lot of military personnel who come in and out of the city. With Plinqit, we have the flexibility for them to maintain their initial financial relationships while saving digitally. Plus, we are able to strengthen our relationship with the base by supporting their initiatives such as Military Saves week, Teach Children to Save project and overall promoting financial literacy.”
“We created Plinqit as a tool to not only help customers safely and securely meet their savings goals, but to also help financial institutions compete for deposits and develop deeper relationships with customers,” said Kathleen Craig, founder and Chief Executive Officer of HT Mobile Apps, creator of Plinqit. “We are thrilled to see FAB&T and their customers meet this milestone. Saving over $500,000 truly demonstrates how effect Plinqit is at helping users practice better savings habits and grow their knowledge of personal finances.”
Plinqit is a brandable, mobile first platform that is elegant and highly powerful at the same time. Unlike any other savings app on the market, its patent-pending Build Skills™ pays users for engaging with content, creating higher user engagement for financial institutions. Created by Millennials for Millennials, Plinqit helps financial institutions connect with this important demographic in a meaningful, relevant way – bringing together digital customers, FI’s and savings in one beautiful place. For more information, visit www.plinqit.com.
About First Arkansas Bank & Trust
FAB&T is a family-owned and managed commercial bank chartered in Jacksonville, Arkansas with Total Assets of $760 million and 22 locations in Central and North Central Arkansas. FAB&T also offers a full-service mortgage department, trust and wealth management services, 24/7 Customer Call Center, and a credit card division, located in Atlanta, Georgia. For more information, visit www.fabandt.com.